Can you please help make a balance bank reconciliation together with the Journal entries of the below-attached
Fantastic news! We've Found the answer you've been seeking!
Question:
Can you please help make a balance bank reconciliation together with the Journal entries of the below-attached file?
Transcribed Image Text:
Name: 1. Using the Bank Statement below for October and the columns of the cash receipts journal, cash payments journal and the cash ledger account-Prepare a Bank Reconciliation for Romeo's Roses and prepare all necessary journal entries to bring the books up to date. (value 23) A partial chart of accounts includes the following: cash 101, accounts receivable 110, notes receivable 120, interest revenue 420, utilities expense 640, and bank charges expense 670. In addition: Cheque 123 was written to pay the utility bill (assume any errors were made by the company bookkeeper. The credit memo is for a notes receivable that the bank collected for $4000 plus interest on our behalf. The debit memo indicated a cheque from R Walters had been returned NSF. October Total Cash Accounting Essentials (GACG1047) - Assignment Two Date Deposits (Cash Receipts) 4 7 10 15 17 22 23 25 29 2023 Oct. 1 Balance 31 31 $ 3, 174 1,407 1,559 187 2,130 1,404 721 4,208 5,105 $19,895 Explanation Post Ref Cr4 CP8 Cheques Written (Cash Payments) Cheque Total Debit 19895.00 ........113 114 115 116 117 118 119 120 121 122 123 Credit $1,930 1,472 2,413 689 230 118 307 1,326 640 3,016 741 $12,882 Account No. 101 12882.00 Balance 13542.00 33437.00 20555.00 Name: 1. Using the Bank Statement below for October and the columns of the cash receipts journal, cash payments journal and the cash ledger account-Prepare a Bank Reconciliation for Romeo's Roses and prepare all necessary journal entries to bring the books up to date. (value 23) A partial chart of accounts includes the following: cash 101, accounts receivable 110, notes receivable 120, interest revenue 420, utilities expense 640, and bank charges expense 670. In addition: Cheque 123 was written to pay the utility bill (assume any errors were made by the company bookkeeper. The credit memo is for a notes receivable that the bank collected for $4000 plus interest on our behalf. The debit memo indicated a cheque from R Walters had been returned NSF. October Total Cash Accounting Essentials (GACG1047) - Assignment Two Date Deposits (Cash Receipts) 4 7 10 15 17 22 23 25 29 2023 Oct. 1 Balance 31 31 $ 3, 174 1,407 1,559 187 2,130 1,404 721 4,208 5,105 $19,895 Explanation Post Ref Cr4 CP8 Cheques Written (Cash Payments) Cheque Total Debit 19895.00 ........113 114 115 116 117 118 119 120 121 122 123 Credit $1,930 1,472 2,413 689 230 118 307 1,326 640 3,016 741 $12,882 Account No. 101 12882.00 Balance 13542.00 33437.00 20555.00
Expert Answer:
Answer rating: 100% (QA)
Bank Reconciliation Statement Bank balance per statement Oct 31 Bank balance per statement Oct 31 33... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Genevieve Shannara has always wanted to open her own kennel and grooming services; she had been grooming pets for friends and family from her apartment for extra cash since high school. When the...
-
Explain and justify what stage current bubble is in ?Analyze the financial markets and contribution of participants that create the bubble? Justify and explain the factors that will cause this bubble...
-
How is the separation of ownership from control related to the principal-agent problem?
-
Compare Javas packages with Rubys modules.
-
Mrs. Palsgraf was waiting for a train on a platform of a railroad. When a different train came into the station, two men ran to get on that train before it left the station. While one of the men...
-
As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far:...
-
(1) (a) Discretize the 2D Poisson equation Vu(x, y) = Uxx + Uyy = = p(x, y) with second-order accurate central differences with Ax = the given charge density. Ay=h. p(x, y) is (b) Express uij in...
-
Peter Piper has applied for a mortgage of $120,000. Interest is computed at 8.5 percent compounded semiannually. The mortgage will be paid off over 20 years. a. Calculate Peter's monthly payment. b....
-
Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record? a). Debit Cash, $8,000; Credit Notes Receivable, $8,000. b). Debit Notes Receivable,...
-
What are the food security issues in our northern, indigenous and low-income communities?
-
What are test of details of balances. Explain with an example.
-
What flexibility does irrevocable and irrevocable trust offer that other trusts do not? What are its advantages and disadvantages of irrevocable and irrevocable trust?
-
In a dissolution proceeding, if the wife has moved to California and resided there for the past year, but the husband remains in the couple's residential home in Virginia, which state has...
-
Simon, a Malaysian resident was employed by KPMG Tax Services, Malaysia, as a senior manager.During basis period for YA2010, he was seconded to KPMG Tax Services in London to oversee the tax advisory...
-
The following budgets in during both Capital Project and Debt Service Funds were approved for the year 2019. City of Jerusalem decides to build a bridge at a cost of $50,000,000 and includes the...
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $125 per week for 48 weeks during the current year. a. What is the employer's portion...
-
Cypress Corporation has regular taxable income of $170,000 (assume annual gross receipts are greater than $5 million) and regular tax liability of $49,550 for 2012. The corporation also has tax...
-
During 2012, William purchases the following capital assets for use in his catering business: New passenger automobile (September 30)........................$21,500 Baking equipment (June 30)...
-
Calculate the ignition delay period (in deg ca) in a diesel engine using Eqns (16.15a) and (16.15b) using the conditions at the beginning of fuel injection that exist after compression in the engine...
-
This question is based on Fig. 16.9. An engine operating on an Otto cycle has a maximum peak pressure of \(60 \mathrm{bar}\). If the pressure and temperature at the beginning of the cycle are 1.0 bar...
-
Compare the air-standard cycle thermal efficiencies of an Otto cycle obtained by calculating the state points around the cycle with the value obtained from Eqn (3.16) for an 'engine' operating with a...
Study smarter with the SolutionInn App